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Bangladesh apparel exports surpass target in July 2014
20
Aug '14
The exports of readymade garments from Bangladesh exceeded the target of US$ 2.465 billion set by the Government for the month of July 2014.

According to the latest report by the Export Promotion Bureau (EPB), Bangladesh’s apparel exports reached US$2.517 billion during the month of July 2014, with an increase of 2.1 percent over the target set for the month.

In July 2014, Bangladesh’s garment exports increased by 0.07 percent to US$2.517 billion, compared to exports of US$2.515 billion made in July 2013.

Segment-wise, woven apparel exports decreased by 4.14 percent to US $1.210 billion during July 2014, as compared to US $1.262 billion worth of exports made in July 2013, whereas knitwear exports increased by 4.32 percent to US $1.307 billion during July 2014, as compared to US $1.253 billion during July 2013.

Knitwear and woven garments together computed for about 84.4 percent of total US $ 2.982 billion worth exports made by the South Asian nation during the month of July 2014.

With the presence of more than 5,000 garment factories that together employ nearly 4.2 million workers, Bangladesh is currently the second-largest garment exporter in the world, next only to China.

To help continuation of the development of the garment industry, the Bangladesh Government has reduced the duty on flex fiber, a raw material used to make the fabrics bright, from 10 percent to 5 percent for fiscal year 2014-15 that began on July 1, 2014. Likewise, the duty on artificial staple fiber was also reduced to 3 percent from the earlier 5 percent.

Fibre2fashion News Desk-India

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